The entertainment industry shouldn't be like this

Chapter 264 One of the richest young people

I really don't dare to drag it on!

The second round of financing for Weibo Technology is not the longest time spent in the Pengcheng Venture Capital negotiations, but it is definitely the most tiring one!

There are many reasons for this.

The founder of venture capital Dai Peng did not expect that Wang Wei would trust the CEO he recommended so much—

After passing the test, Wang Guangqian officially joined Weibo Technology and served as CEO.

Secondly, what I didn't expect was that Wang Guangqian did not disappoint Wang Wei's trust at all.

After he took charge of Weibo Technology, he naturally took over the specific negotiations for the second round of financing. However, not only did he not "released" because of Dai Peng's recommendation, but instead, after learning about some of the key projects of Weibo Technology, he decisively increased his valuation;

If it were normal, Dai Peng would only appreciate his choice - after all, after joining Weibo Technology, Wang Guangqian's interests were bound to Weibo Technology; only by raising more funds at a less cost can he show his strength.

But now, as the person who wants to pay, Dai Peng just wants to kill him!

——A higher valuation not only means that they have to spend more funds to get their ideal equity share; it also means that they have to spend more time to convince investors.

What? He can completely avoid the "price increase" of Weibo Technology?

really!

But other venture capitalists are expected to be euthanized and then pounce on them without hesitation to fill the seat.

The mainstream media in the country are rushing to report on this young man who is most likely to influence the global economy and pattern like those famous people.

People in the film and television industry may only see that movies are released while the game is being released, which can help increase the popularity of movies; but people in the Internet industry can also see that Weibo Technology has undoubtedly found a new profit growth point.

"So, can I see this as investors' expectations for us?" Wang Wei also smiled quite relaxedly.

Not only can you afford to delay, but people also use actions to prove that if you don’t invest, your future valuation may be even more scary!

——This is naturally the release of the Resident Evil game!

It was not until this moment that Weibo Technology truly unfolded the future game scroll.

"Okay, then I can only say I'm sorry to them." Dai Peng was not persistent.

Having said that, Pengcheng Venture Capital couldn't hold back - they suspected that they would not reach an investment agreement again, and Weibo Technology might go public in the industry's desire.

If you can't achieve it, you will naturally continue to talk!

If it is another Internet startup, no matter how optimistic the venture capitalists are, there is no need to worry.

Pengcheng Fund spent 1.8 billion yuan to acquire less than 12% of Weibo Technology’s equity, bringing the company’s valuation to 16 billion yuan!

This has provided huge funds for the ship of Weibo Technology to open up a larger distant sea map and conquered cities and land overseas; it also created a new myth of creating wealth.

"Under the siege of the five major groups, Dunhuang never thought of absorbing the power of major investment funds and using the connections they represent to expand?"

——This is impossible. At this time, Weibo Technology’s valuation of 10 billion yuan was almost considered reasonable by the entire industry.

Wang Wei’s wealth is not clear at the moment, but he is definitely one of the richest 23-year-old young people on earth, and he is a wealth created by himself rather than inherited.

All the details and clauses have passed the review of both parties, and now they are settled just by waiting for Wang Wei to sign.

The media industry is a very mature red ocean market, and it is absolutely impossible to spend money to break the situation; under the current situation where the upstream and downstream are almost integrated and controlled by the five giants, foreign financing cannot bring much breakthrough to Dunhuang.

——After a slow talk of two or three months, Internet companies will almost lose their ammunition and food. As long as they don’t want to starve to death, they can only accept the price of venture capitalists.

"They are very rich!" Dai Peng blinked and emphasized, "So you can actually consider selling some Dunhuang equity to them. These rich people will definitely give you a fair price."

Where is Weibo Technology? People don’t tell stories, but as long as you don’t agree, they will dump the project!

When will it go public? This is the most concerned issue for industry investors - they can't wait to get a share of it.

Therefore, when the time came to mid-October, Pengcheng Venture Capital, which had been retreating again and again, officially reached an agreement with Weibo Technology to obtain about 11.3% of Weibo Technology's equity with an investment of 1.8 billion yuan.

But Dunhuang is different.

However, this did not meet Wang Guangqian, or Wang Wei's psychological expectations behind him.

Although the investment exceeded expectations, Dai Peng was more excited when the dust settled!

Because he knew that the funds would be exchanged for greater returns.

"If it is Dunhuang, we are of course interested." Dai Peng smiled and continued, "But I asked some investors who have spare money."

This is the most different thing about Weibo Technology from other Internet companies that need financing - they are too unethical!

Nowadays, how do Internet companies want to raise funds - find a model, endorse the status quo, tell stories to capital, and try to tell stories as full and round as possible; and as long as their logic and story capital can understand, an Internet startup can earn hundreds of millions of dollars by telling stories.

Wang Wei raised his eyebrows, "Will Pengcheng Fund still be interested in traditional industries?"

For example, after the start of the financing war, Weibo Technology first launched the "Penguin Membership" system, and through the monetization of virtual goods, it found a path for self-producing and growing. This model even changed the direction of the small half of the Internet industry.

The most popular financing drama in the Internet industry this year has finally come to an end!

For example, Weibo Technology accepted the investment from Pengcheng Fund this time because it requires both their money and their "momentum" - the "momentum" of attracting talents and acquiring other Internet companies.

——This is probably one of the reasons why Wang Wei needs to focus more energy on Dunhuang!

Dai Peng thought so.

Dai Peng shook his head, "Your future does not require anyone's expectations! If you really want to say expectations, I would like to ask if Dunhuang has any intention to raise funds?"

...

"Maybe. But Dunhuang is not short of money yet." Wang Wei replied in an unquestionable tone.

The problem is that other Internet companies that are purely storytelling can get overvaluation. Weibo Technology has at least achieved practical results, so isn’t it worthwhile?

Just kidding, the current financing difficulty of Weibo Technology is not zero, it is simply a negative number - also known as "I can't queue up even if I get on the rush to send money"...

That's right, it's just that weird - dumping the project!

But unfortunately, the newly appointed executive Wang Guangqian said, "We are in a rapid expansion stage. If we go public, some expansion strategies may not satisfy shareholders, which will cause us to be distracted. Therefore, we have no plans to go public in the short term."

After all, there are only two reasons for corporate financing. The first is lack of money, and the second is lack of momentum. There are two purposes: one is to try to continue operations, and the other is of course to expand production. No matter how fancy the words are, this is one of the fundamental motivations of corporate financing.

This made him shake hands with the latter with a relaxed smile after Wang Wei signed the letter, "I once thought I would miss it with the future Internet overlord. Fortunately, I still didn't miss it!"

Of course, it is hard to say what its prospects are now - the film and game linkage is indeed a beautiful story, but it is really hard to say whether the Dunhuang-Weibo Technology Consortium can still copy this effect;

Weibo technology can afford it.

More media reporters are ready to interview this new generation who will definitely be on the wealth list.

Then……

Dunhuang told him that he refused all interviews because he wanted to make a new film.

As soon as the news came out, almost all the reporters were thinking about a question - if I were so rich, I would still make yarn movies!

...

(End of this chapter)